Do You Think the Management of Roivant Sciences (ROIV) Can Create Value?
Tourlite Capital Management, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. Tourlite Fund, LP Founder Class returned 1.1% for Q4 2023 and 8.8% for the year. Since its inception in April 2022, the fund returned 14.3% compared to 8.4%, and 0.5% returns for the S&P 500 and Russell 2000 indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Tourlite Capital Management featured stocks such as Roivant Sciences Ltd. (NASDAQ:ROIV) in the fourth quarter 2023 investor letter. Headquartered in London, the United Kingdom, Roivant Sciences Ltd. (NASDAQ:ROIV) is a commercial-stage biopharmaceutical company. On February 14, 2024, Roivant Sciences Ltd. (NASDAQ:ROIV) stock closed at $11.32 per share. One-month return of Roivant Sciences Ltd. (NASDAQ:ROIV) was 7.71%, and its shares gained 29.67% of their value over the last 52 weeks. Roivant Sciences Ltd. (NASDAQ:ROIV) has a market capitalization of $9.122 billion.
Tourlite Capital Management made the following regarding Roivant Sciences Ltd. (NASDAQ:ROIV) in its fourth quarter 2023 investor letter:
"During the fourth quarter, the fund initiated a significant position in Roivant Sciences Ltd. (NASDAQ:ROIV), a biotech company specializing in consolidating promising drug patents, known as 'vants'. Our thesis is based on the following framework:
Cash value: ROIV's strategic acquisition of Televant (85% ownership) from Pfizer for $45 million in December 2022, followed by the sale of this asset to Roche for $5.2 billion in Q4 2024, showcases management's ability for value creation Adjusting for the sale proceeds, Roivant has a net cash position of ~$8 per share…” (Click here to read the full text)
A research scientist in a lab coat examining a sample of blood for sickle cell diseases.
Roivant Sciences Ltd. (NASDAQ:ROIV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Roivant Sciences Ltd. (NASDAQ:ROIV) at the end of third quarter which was 46 in the previous quarter.
We discussed Roivant Sciences Ltd. (NASDAQ:ROIV) in another article and shared the list of best mid-cap growth stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
